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August 3, 2012

ITG Launches Retail Router

By Peter Chapman

ITG has launched a new router designed specifically for retail broker-dealers. The ITG Smart Retail Router connects traders to multiple sources of liquidity, including the firm's own Posit crossing network. It also routes orders to wholesaler market makers.

Dan Weingarten, head of liquidity management sales at ITG, said the dual approach is beneficial for the retail universe. "For retailers that predominately use wholesalers as a means for execution, we can complement that service with our institutional overlay and our technology," Weingarten said.

Bringing retail flow in contact with the institutional buyside provides high-quality liquidity to institutions as well, Weingarten added.

"Institutional interacting with retail and retail interacting with institutional is a win-win," he said. "It's natural flow for the institutional side, and it's more order types for the retail side."

ITG, known primarily as an institutional firm, hired Weingarten in December 2010 and since then has made a concerted effort to build its wholesale business.

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